News

Independent Media Distribution lifts profits

09 September 2008 10:25:00

Digital advertising distributor Independent Media Distribution (IMD) saw profits rise nearly 50% in the year to June 30 and said it would continue expanding into mainland Europe despite an uncertain economic outlook.

Profits before tax in the year to June 30 rose to £629m from £425m as revenues climbed to £3.8m from £3.3m.

IMD, which describes itself as an 'electronic postman for TV and radio advertising', said revenues in its core UK market were grew strongly as it made 60% of all digital deliveries to Channel Four and Sky.

"I am delighted with our financial results in the first half and also with the progress we are making in the new overseas markets of Germany, Spain and France that we are busy developing," said chairman David Haynes.

"Although these three new markets will require further investment in the second half and beyond, they represent a three-fold increase in the potential market for our TV commercial delivery services, so they are key to our long term strategy."

The company also said that the new financial year had started well.

"The ongoing turbulence in consumer markets, with its inevitable knock on effects into the advertising & media sectors continues, however, IMD's sales in July and August have remained slightly ahead of last year," chief executive Simon Cox said.

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